Many small business owners aren’t sure about how to protect their business data from a cyberattack. Some business owners don’t really see this issue as one worth investing in because they think that it won’t happen to them. Entrepreneurs like these can learn a great deal from the statistics that have recently emerged from analysts. There are 4 must-know cybersecurity stats every business owner should know:
1. 58% of all cyberattacks target small businesses.
Even though there has been news of attacks on mega-corporations like Google and Facebook, Verizon found that most cyberattacks target smaller businesses. Larger corporations offer a bigger payout for attackers, but smaller ones are easier to penetrate. Regardless of size, cybercriminals will take advantage of any vulnerability in your system’s protections. Smaller businesses are typically easier targets because they haven’t invested in protecting their systems.
2. Only 14% of small business owners think that they are adequately able to mitigate cyber risks.
Figuring out how to adequately manage cyber risks can be confusing for small business owners. That’s because they typically don’t have the staff or other professionals dedicated to that task. Others choose not to take protective measures because of costs, or they simply don’t believe it’s worth the investment. To be sure, this statistic means that the majority of small business owners are unprepared. Moreover, cybercriminals know this.
3. 48% of data security breaches are caused by malicious intent.
This is a startling statistic. It means that criminals are very active and able to determine holes in a company’s protections. At the same time, the other half of data breaches are caused by human error or system failure. If you believe that cyberattacks are not a risk for your business or that you needn’t be concerned with it, think again.
4. 55% of surveyed respondents reported a cyberattack in the past year.
SmallBizTrends’ research has revealed that an overwhelming number of small businesses have already been the targets of cyberattacks. Given that the research is now already three years old, these statistics have surely increased as criminals have improved their skills.
Cybersecurity is a very important facet of owning a small business. Unfortunately, some criminals are good at their jobs. If you don’t protect your systems with multi-factor authentication, your business will be an easy target. The good news is that you have options when facing cyberattacks. Consider reaching out to a professional service that can help you secure your data.